Economy Legislation
Regulations governing economic policy, monetary matters, taxation, public spending, and market regulation.
The Greenhouse Gas Emissions Trading Scheme (Amendment) Order 2025
The Order amends the UK Emissions Trading Scheme to revise how installation closures are handled and their impact on free allocation of emissions allowances.
It introduces new definitions for operational cessation, mandatory notification requirements, and regulator powers to determine permanent closures.
The amendments also create special provisions for installations undertaking decarbonization projects and modify reporting requirements for installations receiving free allowances.
These changes aim to improve scheme administration while supporting industrial transition to lower-carbon operations.
The Hull and East Yorkshire Combined Authority Order 2025
The Hull and East Yorkshire Combined Authority Order 2025 establishes a new combined authority covering the areas of Kingston upon Hull and East Riding of Yorkshire, with an elected mayor taking office from May 2025.
The order grants significant powers over transport, housing, regeneration, and economic development, while establishing clear governance structures and funding mechanisms.
The combined authority will have the ability to exercise functions previously held by constituent councils and other public bodies, aimed at improving economic, social, and environmental wellbeing across the region.
The Designation of Special Tax Sites (East Midlands Investment Zone) Regulations 2025
These regulations, enacted under the Finance Act 2021, designate three areas in the East Midlands as 'special tax sites' to boost economic activity within the East Midlands Investment Zone.
This designation provides enhanced capital allowances for plant, machinery, structures, and buildings, along with stamp duty land tax relief, for qualifying companies and investments within these zones.
The designated sites are explicitly defined by maps, and the regulations took effect on February 26, 2025.